Both networks have submitted bids to FremantleMedia -- which owns the show -- and a decision could come as early as this week.

Multiple sources familiar with the deal say NBC wants the show in part to resolve a 2 problems with "The Voice." One, the network doesn't want to oversaturate the market with the show, which airs twice a year, and that Adam Levine only wants to do 1 cycle a year, and 2 'The Voice has yet to make a "break-out" star.

If NBC gets 'Idol,' it would rotate 'A.I.' with "The Voice" and each would air once a year.

We're also told NBC has Ryan Seacrest as the favored host the second time around, and FOX would also entertain bringing Ryan back.

Sources say the target date for bringing 'Idol' back is either Summer 2018 or mid-season 2019.

FOX never gave up on the show, it just became way too expensive to produce with the talent costs of Ryan, J Lo, Keith Urban and Harry Connick Jr. The reboot, we're told, would have a new panel of judges.

In NBC's case they have deals with J Lo, Ryan, Harry already having there own shows and production companies under the corporate umbrella.